Why do progressives think quantitative easing is such a good idea? My guess is it is because none of them actually understand what it does. By buying up $40 billion worth of securities every month the fed is instituting a program that helps makes rich people richer and poor people poorer. It is a primary driver of the income inequality Obama is campaigning against, and it actually lessens the mobility that we saw during the Reagan/Bush/Clinton years. It help support stock prices, earns CEOs massive bonuses, and does nothing to help the middle class or the working class. It will cause a larger spike in inflation, drive up food prices, and drive up the price of housing. Banks lower interest rates for corporations and raise interest rates on new mortgages. Yet, for some reason, this is supposed to make everything better. Can anyone explain this to me?